Loan Administrator

Background

The mission of  Women’s Opportunities Resource Center  (WORC) is to promote social and economic self-sufficiency primarily for economically disadvantaged women and their families. WORC provides entrepreneurial training, individual business assistance, incentive savings programs, and access to business and financial resources. WORC empowers its constituents through various self-help strategies including savings, a self-employment network, and access to its local and national affiliations. Additionally, WORC encourages community awareness and responsiveness concerning issues impacting economic equity and independence.

Summary

The Loan Administrator plays a crucial role in facilitating pre- and post-loan activities, ensuring compliance with regulatory standards, and supporting the organization’s mission of providing financial assistance to underserved communities. This position will also be instrumental in contributing to the enhancement and automation of loan administration processes and practices, including upgrades to the Loan Portfolio Management System. It is a full-time role based in our Philadelphia office, reporting directly to the Director of Lending.

Responsibilities

Loan Administration:

• Oversee all facets of Loan Administration, encompassing tasks such as data entry for closed loans, processing security interests, managing loan payments and modifications, preparing loan payoffs, and monitoring borrower compliance with reporting and repayment obligations.
• Coordinate incoming loan applications, providing support to loan officers by verifying documentation requirements and liaising with clients to collect necessary paperwork.
• Manage logistics for Loan Advisory Council meetings, including scheduling, arranging virtual meetings, ensuring document submission, and recording meeting minutes.
• Prepare closing documentation, ensuring all required forms and disclosures are completed accurately and forwarded to the appropriate loan officer.
• Conduct post-loan closing file reviews to ensure adherence to federal and state lending program criteria, maintaining organized physical and electronic files.
• Collaborate with relevant stakeholders to ensure documentation for all lending programs complies with internal and external standards.
• Identify opportunities for process improvement to enhance the efficiency of loan administration practices.

Portfolio Management & Reporting:

• Maintain data integrity in the loan portfolio management system “Down Home” through database management tasks.
• Generate reports from the lending database and manage regular portfolio reporting, including delinquency reports, borrower risk ratings, and quarterly and annual reports.
• Collaborate with the finance team to reconcile the loan portfolio against accounting records.
• Participate in staff meetings and perform other duties as assigned.

Requirements

Required Knowledge, Experience, and Skills:

• 2+ years of experience in loan administration within community or economic development lending, microfinance, or related fields, with a strong understanding of consumer financing regulations.
• Associate’s degree from an accredited university in a relevant discipline or equivalent experience.
• Proficiency in MS Office and database systems.
• Exceptional attention to detail and the ability to work independently and collaboratively.
• Strong organizational and time management skills, with the ability to multitask effectively.
• Customer-centric approach, displaying patience, flexibility, and a willingness to give and receive feedback.
• Willingness to occasionally work evenings and weekends for meetings, seminars, and events.

This job description aims to provide a clear outline of the role’s responsibilities and expectations, as well as the required qualifications and skills.

Compensation and Benefits

Compensation range $62,000 – $65,000 dependent upon experience and health benefits included

How to Apply

Please apply by clicking on this link